Flowtech Fluidpower (GB:FLO) has released an update.
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Flowtech Fluidpower PLC announces the strategic acquisition of Thomas Wright/Thorite Group Limited, a UK leader in pneumatics and fluid power products, aiming to enhance market share and improve margins through significant synergies and operational efficiencies. The purchase, valued at £350,000, is funded from existing bank facilities, with expectations of profitability restoration in the first full year post-acquisition despite recent market challenges. Flowtech has also rescheduled its half-year results announcement to provide a detailed insight into the acquisition’s strategic benefits.
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